Globe Civil Projects Limited has informed the Exchange about Credit Rating- Revision
GLOBECIVIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Globe Civil Projects Limited's bank facilities of Rs. 110 crore have been rated by Acuite Ratings and Research, replacing the previous ratings from Infomerics. The long-term rating stands at ACUITE BBB+ with a 'Stable' outlook, replacing the earlier IVR BBB+ with a 'Positive' outlook. The short-term rating has been upgraded to ACUITE A2+ from the earlier IVR A3. The rating action is supported by the company's two-decade operational track record, an unexecuted order book of around Rs. 870 crore providing 2.5-3 years of revenue visibility, and improving financial risk profile with net worth rising to Rs. 224.87 crore post-IPO in July 2025. Concerns remain over working-capital-intensive operations (344 gross current asset days) and the tender-based nature of the business. Liquidity is rated adequate, backed by unutilized IPO proceeds of Rs. 15.37 crore.
Mixed signal for investors: the long-term outlook was revised downward from Positive to Stable (a mild negative), but the short-term rating was upgraded from A3 to A2+. The overall grade of BBB+ is maintained, indicating the company's credit quality remains investment-grade and stable. Shareholders should note the change in rating agency and the modest outlook revision, though underlying financials and order book remain healthy.